U/s 10(46) of IT Act 1961 - Central Government notifies ‘Regional Air Connectivity Fund Trust' in respect of the specified income arising to that Trust. - 01/2022 - Income Tax Act, 1961
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Tax exemption for Regional Air Connectivity Fund Trust: specified grants, levies and related interest notified as exempt subject to conditions. Notification under section 10(46) designates Regional Air Connectivity Fund Trust (PAN AADTR1130P) as exempt in respect of specified income comprising government grants, levies from airlines, forfeited bank guarantees from airlines' non-fulfilment, and interest on those receipts, subject to conditions: no commercial activity, unchanged activities and income nature across financial years, and filing returns under section 139(4C)(g); the notification states its applicable financial years and includes an explanatory memorandum certifying no adverse effect from retrospective application.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption for Regional Air Connectivity Fund Trust: specified grants, levies and related interest notified as exempt subject to conditions.
Notification under section 10(46) designates Regional Air Connectivity Fund Trust (PAN AADTR1130P) as exempt in respect of specified income comprising government grants, levies from airlines, forfeited bank guarantees from airlines' non-fulfilment, and interest on those receipts, subject to conditions: no commercial activity, unchanged activities and income nature across financial years, and filing returns under section 139(4C)(g); the notification states its applicable financial years and includes an explanatory memorandum certifying no adverse effect from retrospective application.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
